Insider Buying: Akoya Biosciences, Inc. (NASDAQ:AKYA) COO Acquires 20,000 Shares of Stock

Akoya Biosciences, Inc. (NASDAQ:AKYA) COO Frederic Pla acquired 20,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $4.60 per share, for a total transaction of $92,000.00. Following the transaction, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at $92,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Akoya Biosciences Trading Up 3.2 %

Shares of NASDAQ AKYA traded up $0.14 during mid-day trading on Monday, reaching $4.45. The company had a trading volume of 174,171 shares, compared to its average volume of 166,084. The business’s 50-day moving average is $6.15 and its 200-day moving average is $7.05. The company has a current ratio of 3.37, a quick ratio of 2.94 and a debt-to-equity ratio of 0.90. The stock has a market cap of $217.79 million, a price-to-earnings ratio of -2.30 and a beta of 1.17. Akoya Biosciences, Inc. has a 52 week low of $4.28 and a 52 week high of $14.38.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). Akoya Biosciences had a negative return on equity of 123.30% and a negative net margin of 89.82%. The company had revenue of $23.52 million during the quarter, compared to the consensus estimate of $22.17 million. Equities analysts expect that Akoya Biosciences, Inc. will post -1.64 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Water Life Science Advisors LP lifted its stake in Akoya Biosciences by 123.9% in the second quarter. Blue Water Life Science Advisors LP now owns 4,697,785 shares of the company’s stock worth $34,717,000 after acquiring an additional 2,600,000 shares during the period. Polar Capital Holdings Plc lifted its stake in Akoya Biosciences by 15.2% in the second quarter. Polar Capital Holdings Plc now owns 1,515,470 shares of the company’s stock worth $11,199,000 after acquiring an additional 200,000 shares during the period. BlackRock Inc. lifted its stake in Akoya Biosciences by 19.4% in the second quarter. BlackRock Inc. now owns 1,189,850 shares of the company’s stock worth $8,793,000 after acquiring an additional 193,305 shares during the period. Vanguard Group Inc. lifted its stake in Akoya Biosciences by 18.1% in the third quarter. Vanguard Group Inc. now owns 922,040 shares of the company’s stock worth $10,835,000 after acquiring an additional 141,017 shares during the period. Finally, Millennium Management LLC lifted its stake in Akoya Biosciences by 6.1% in the second quarter. Millennium Management LLC now owns 718,063 shares of the company’s stock worth $9,227,000 after acquiring an additional 41,261 shares during the period. 39.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AKYA shares. Morgan Stanley cut their price objective on shares of Akoya Biosciences from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. BTIG Research cut their price objective on shares of Akoya Biosciences from $14.00 to $11.00 in a research report on Tuesday, August 8th. Finally, Stephens cut their price objective on shares of Akoya Biosciences from $16.00 to $14.00 in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $14.33.

Akoya Biosciences Company Profile

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.